The COVID-19 pandemic has caused one of the worst health, economic and social crises in Latin America and the Caribbean in its most recent history, the most vulnerable population being the most affected. Despite their budget deficits, governments have made great efforts to mitigate the social and economic effects with measures financed by the State. However, in the face of a crisis of this magnitude, many countries lack the mechanisms and experience to manage these expenditures more efficiently, inclusively and effectively in the long term. At the same time, the risk exists that the dominant patterns of production, distribution and consumption, as well as integration in the institutional and political framework, become even more oriented towards short-term results.
This cooperation initiative aims at strengthening the member states of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) in the areas of fiscal, social and industrial policy with a view to effectively designing a long-term, transformative economic recovery in the aftermath of the COVID-19 pandemic.
The project reinforces the advisory services offered by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) regarding fiscal, social and industrial policy, using three different approaches: First, competencies of expert and managerial staff are developed through training and exchange of experiences on best practices. Second, the project advises ECLAC in its work with selected ministries and authorities in various member states. And third, strategic partnerships are forged between the political sphere, civil society, the private sector and the scientific community and potential synergies are harnessed.
Aligned with ECLAC's strategy "The 2030 Agenda and the SDGs", it specifically contributes to SDGs (1) "No poverty", (3) "Good health and well-being", (4) "Quality education", (6) "Clean water and sanitation", (7) "Affordable and clean energy", (8) "Decent work and economic growth", (10) "Reduced inequalities", (12) "Responsible production and consumption", (16) "Peace, justice and strong institutions" and (17) "Partnerships for the goals".
